Catenae Innovation Plc: Contract And Product Update
06 December 2018 - 6:00PM
UK Regulatory
TIDMCTEA
CATENAE INNOVATION PLC
("Catenae" or the "Company")
Contract and Product Update
Catenae (AIM:CTEA), the AIM quoted provider of digital media and
technology announces it has signed its first contract for a solution
utilising its blockchain technology. This agreement is with STM Security
UK Ltd ("STM") who have been customers of the Company since 2013. STM is
a UK based security company and a supplier of manned security solutions
and customer service staff, providing professional, trained and licensed
personnel throughout the UK.
Under the terms of the contract Catenae will supply STM with OnGuard
Plus, a business management solution which was specifically developed
for the security industry. It utilises mobile and cloud technologies to
support the administrative, operational and financial functions of the
manned guarding sector. The integration of Catenae's Sequestrum
distributed ledger technology provides clients with the ability to store
critical and regulatory reports in an immutable form within the
Sequestrum repository providing auditable proof of both the existence of
the report as well as its original content. Revenue is generated via an
annual 'in advance' licence fee as well as a transaction fee on a 'per
report' basis.
Sequestrum Update -- Catenae has recently completed final testing of
Sequestrum, Catenae's Distributed Ledger technology digital repository
running on the Hyper Ledger Blockchain platform. This recent technical
development opens up the opportunity for Sequestrum to be run on the
client's choice of Blockchain platform, significantly broadening its
potential application.
OnSite -- The Company announces the launch of its management and
inspection platform - OnSite. This product has been developed
specifically for the construction industry. The product provides the
ability for companies to manage and schedule their workforce and
provides a universal inspection and reporting tool that can be adapted
to meet the regulatory reporting standards for this industry. The
integration of Sequestrum ensures that inspection reports are stored in
an immutable form directly from the mobile input device, recording the
geo-coordinates of the device and centralised timestamping as meta data
for full auditability.
We hope to make further announcements on further commercial agreements
in the near future.
This announcement contains inside information for the purposes of
Article 7 of EU Regulation 596/2014. The person who arranged for release
of this announcement on behalf of the Company was Tony Sanders (Chief
Executive Officer).
For further information:
Catenae Innovation PLC Tel: 020 7929 7826
Tony Sanders
Cairn Financial Advisers LLP, Nominated Adviser Tel: 020 7213 0880
Liam Murray / Jo Turner
Alexander David Securities Limited, Broker Tel: 020 7448 9820
David Scott / James Dewhurst
(END) Dow Jones Newswires
December 06, 2018 02:00 ET (07:00 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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